S/Africa: Ramaphosa launches $30m automotive parts factory
The president was speaking on Tuesday when he officially opened the Metair Investments subsidiary Hesto Harnesses, where a new 35,000 square-metre modern manufacturing plant was unveiled in KwaDukuza, KwaZulu-Natal province. Hesto Harnesses, in partnership with Yazaki Corporation of Japan, manufactures wiring harnesses and instrument clusters to…
APA-Durban (South Africa) President Cyril Ramaphosa said a US$30-million automotive parts factory launched on Tuesday is a key pillar of his government’s economic reconstruction and recovery programme and is set to create jobs for millions of South Africans.
The president was speaking on Tuesday when he officially opened the Metair Investments subsidiary Hesto Harnesses, where a new 35,000 square-metre modern manufacturing plant was unveiled in KwaDukuza, KwaZulu-Natal province.
Hesto Harnesses, in partnership with Yazaki Corporation of Japan, manufactures wiring harnesses and instrument clusters to supply to South African-based automotive equipment manufacturers Toyota, Isuzu, Nissan and Ford Motor vehicle companies.
He said his government had developed several industrial policy measures and was now implementing far-reaching reforms to unlock growth opportunities in priority industries.
These include the automotive industry and has extended to areas such as clothing and textiles, chemicals and plastics, steel and metals fabrication, green industries, the digital economy and network industries like energy and transport, he said.
“I understand that Metair is both supplier and a business partner to the vehicle assemblers, and that the company has been a driving force in achieving localisation targets,” Ramaphosa said.
Through these efforts, the company had secured multiple contracts from Ford South Africa to support their production expansion strategy in the country, he said.
He noted that the automotive sector in South Africa was one of the biggest beneficiaries of foreign direct investment destinations, and despite all the challenges, 2021 was a significant year for automotive investments.
“We need to work together to unlock new business opportunities, transformation and employment creation in South Africa’s component manufacturing landscape, just as we need to promote new investments in technology and skills,” the president said.
NM/jn/APA
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